Investor flows into high-yield bond funds were negative last week. According to Lipper, net outflows from high-yield bond funds totaled $562 million in the week ended May 25, 2016.
High-yield bond issuance activity increased significantly last week on a firm market condition. Issuers were in a rush to close deals ahead of Memorial Day weekend.
It appears that AIG’s management will be more inclined to continue as a consolidated entity and to improve returns for its shareholders in its current form.
Highfields Capital Management is an investment management firm that manages private investment funds and caters to pension funds, philanthropic and charitable foundations, and endowments.
In 4Q14, JAT Capital sold its stake in Hertz Global Holdings (HTZ). The $196-million position had represented 3.2% of the fund’s third-quarter portfolio.
Viking Global started a new position in Avis Budget Group (CAR). The fund bought 5,020,701 Avis Budget Group shares. The shares were worth $333 million.
Tiger Global Management decreased its investments by over $15 million in Visa. The fund’s current position in Visa accounts for 0.53% of its total portfolio.
Alibaba is a Chinese e-commerce firm that operates in the online and mobile marketplace and connects retailers and wholesalers with prospective customers.
Avis Budget Group will use its free cash flow to improve shareholder value through a mix of share repurchases and capital investments via acquisitions.
Avis Budget Group is diversifying its disposal channels to reduce fleet costs. It’s also expanding in direct-to-dealer and direct-to-consumer car sales.
Avis Budget Group (CAR) is a leading global provider of vehicle rental services. It also offers a car-sharing network service through its brand, Zipcar.
JANA Partners increased its stake in Hertz Global Holdings (HTZ) during the third quarter. The position accounted for 2.95% of the fund’s 3Q14 portfolio.
JPMorgan’s latest 2Q14 results beat estimates. Meanwhile, net income was down to $6 billion from $6.5 billion in 2Q13. The earnings per share (or EPS) was $1.46, compared to $1.60 in 2Q13.
Carl Icahn said that Apple’s stock is dramatically undervalued and is actually trading at half of its intrinsic value. He believes that Apple’s (AAPL) stock should be trading at around $203, much higher than the current stock price of $98.
P&G reported first quarter fiscal year 2015 core earnings per share of $1.07, an increase of 2% compared to the previous year. Net sales were unchanged compared to a year ago, at $20.8 billion.
In this series Activist investor Dan Loeb’s fund, Third Point Partners LP, disclosed some of the positions traded during 3Q14 in its 3Q investor letter. In this series, we’ll go through the details of these positions and Third Point’s rationale for adding or exiting its stakes. In its 3Q letter, the fund said it “continued […]
Icahn Associates recently disclosed an activist position in rental car company Hertz Global Holdings (HTZ). The fund took an 8.48% stake in Hertz. It was disclosed in a 13D filing on August 20.
Mainly known for its printers and copiers, Xerox shifted into business services with its $5.5 billion acquisition of Affiliated Computer Services Inc. (ACS) in 2009.
Applied Materials Inc. provides manufacturing equipment, services, and software to the global semiconductor, flat panel display, solar photovoltaic (or PV), and related industries.
Dinakar Singh’s TPG-Axon initiated a new position in Equinix Inc. (EQIX), a global interconnection and data center company, that accounts for 6.09% of the fund’s portfolio.
Covidien plc (COV) is a 1.02% position in Iridian’s portfolio and develops, manufactures, and sells a diverse range of industry-leading medical device and supply products.
